On November 10, 2026, Sahir Raoof announced that his new firm Proximal Ventures closed a $27.5 million debut fund to back AI‑driven drug‑development startups. The fund will write pre‑seed and seed checks of $500,000 to $1.5 million and has already backed seven companies, including ChronicleBio founded by former OpenAI executive Fidji Simo. Raoof’s fundraising success despite a tight capital environment signals early investor confidence in AI‑enabled pharma services.
By targeting the $billions‑worth of pharmaceutical service spend, AI‑focused startups could shift pharma purchasing from high‑cost services to scalable software solutions, accelerating drug discovery timelines. The capital allocation to early‑stage AI health ventures also deepens the venture pipeline, increasing competition for talent and data assets in the life‑science tech sector.